Spain has a population of 46.4 million, 79% of which are city-dwellers. Spain has an average income of $22,477. While the economy is recovering, Spain’s unemployment is still a big issue. Only 56% people in the 15-64 age group have a job.
What do we know about Spanish customers?
Spain’s economy slumped during the financial crisis. After that, Spanish consumers have become more price-conscious. However, thanks to recent economic improvements, consumer confidence has grown considerably to reach an all-time high since 2004. A significant portion of consumer expenditure is for basic necessities, food, and non-alcoholic beverages. To introduce your business to Spain, it is necessary that you obtain an understanding of the market.
What do people import in Spain?
- Spain imports mostly energy, vehicle parts, and packaged medicaments.
- Most important import partners are Germany, France, China, Italy and the Netherlands.
What are the major ports of Spain
Located in Southwestern Europe and having a coastline of almost 5,000 kilometers, Spain has a lot of harbours and airports, connecting it to other continents. The main portals for international business to enter the country are listed below.
Major container ports of Spain are:
- Las Palmas
Major cargo airports of Spain are:
- Adolfo Suárez Madrid-Barajas, Madrid
- Barcelona-El Prat, Barcelona
- Malaga-Costa Del Sol, Málaga
What are the customs and tariffs regulations in Spain?
- For countries outside the European Union (EU), if you want to introduce your products to Spain, you will need an EORI ID.
- Spain follows the EU’s rules and regulations.
- You need to pay taxes and duties if you want to import goods from non-EU countries.
- Customs duties depend on your products.
- You will need to follow EU’s guide on product’s label and packaging.
- Some commodities are banned while others will require an import license:
- Counterfeit goods
- Agricultural products
- Seed oil
What is the distribution structure in Spain?
The distribution channel is well developed in Spain. Two major business hubs are Madrid and Barcelona, where most business operations take place. Commodities can go through a traditional distribution method, from wholesalers to retailers to consumers, or through central purchasing units.
Knowledge of the customer base, major gateways, legal matters as well as the distribution structure will be beneficial to your expansion. Having a local partner will help you navigate around Spain’s market and ensure optimal results for any joint venture or business you plan to do in the country.